Are digital payments secure enough for the Indian economy to go cashless?

Only payments made through a recoganized platform can be termed as secure but the risk of theft or any other cyber crime still remains in the mind of a customer. Cashless economy is only possible if all the people belonging to the rural society are able to use it, the amount of illiteracy and poverty in India makes me think if every single individual in our country will ever be able to do cashless payments or not.

I think.

Digital payment is secure because many countries are using digital payment by country economy will increase.

To make Indians cashless firstly we have to educate them about what is digital payment and also briefly explain about it advantages by using it frauds will stop and there money will be safe and they can use it any time they want.

So, we have to make Indians cashless and use digital payments.

Yes, nowadays India is becoming a global power and to race with the other developing countries we must adopt the digital payments, it is true that many of the poor people of India will face a problem with it at the starting but if the govt will provide the perfect platform after some time they will well known about the process. I belong to a rural village and I have seen the change where people are not much educated but everyone is using a smartphone and use ATM they don't know much about the technology but they know the method to operate it. So I must think India will soon take initiative to launch digital payments on a large scale.

Yes, I say it is fully secured. If you can use proper way then you will never be facing a problem in. Before using it you should read all the Instructions. Nowadays according to previous experiences system has more improved and secured like as one-time password you always get on your register mobile number while transecting Or any other practices with a bank account. OTP will get on your register mobile after OTP matching they allow to proceed next. So, you don't share your personal data like as OTP.

Nowadays you no need to go in bank physically you can access your bank account at home by digital banking. In this case, you save your time Also access any time no time restrictions as banking hours. Also, you have to no need to carry cash anywhere.

Yes, I say it is fully secured. If you can use proper way then you will never be facing a problem in. Before using it you should read all the Instructions. Nowadays according to previous experiences system has more improved and secured like as one-time password you always get on your register mobile number while transecting Or any other practices with a bank account. OTP will get on your register mobile after OTP matching they allow to proceed next. So, you don't share your personal data like as OTP.

Nowadays you no need to go in bank physically you can access your bank account at home by digital banking. In this case, you save your time Also access any time no time restrictions as banking hours. Also, you have to no need to carry cash anywhere.

Digital payments is more beneficial for online shopping, you can choose a single product from many products by comparing cost and discount on it. If you pay online by digital payment then you get good discount to compare to cash on delivery. You can easily buy anything or ordered from your home by digital payment.

Also, digital payments have some drawbacks hackers steal your information from social sides as facebook, linkendin, orkut etc. The informations are date of birth, mobile number, pan card number, Aadhar card number etc. All bank account holders are linked their mobile number with a bank account. By using stolen document's they get another sim card of your number then they get OTP on your sim and steal money from your bank account. Therefore don't share your personal information to others and aware about fake and illegal sides.

Also digital payments have some drawbacks.

I think digital payments is suitable because India is not single country that uses digital Payments there are lots of countries who uses that so I think digital payments is safe and secure and make an very much impact in India to go cashless.

There is nothing like whether it is secured or unsecured. It depends on how you execute it. It will be secured and successful if we plan well and execute well. There are many drawbacks of digital payments like security fraud, data theft, hacking, etc. But this drawbacks can be overcome. Firstly we need to educate poor and uneducated people about this and spread the knowledge throughout the country because we people know how to use it and how to manage it. But those people don't know. They find it difficult. Hence, we need to educate them first. These are some of the small things we need to consider. And then plan well and execute well. And it will definitely work out.

First of all every country says India is an cashless, because the reason is politician. So many people don't know to use ATM. Whenever cashless India are published, so many poor peoples are affected by this rule.

So, first, Go for free education then execute this rule.

According to me, if we provide knowledge of payments apps like Paytm, tezz it is a good one for our people to adapt the modern technology.

Carrying always cash sometimes it becomes risk-taking rather than if we create any wallet and provide some secured password it is good.

To add on, Digital economy has played a vast role in contributing to our society up-gradation. One of the major benefit is people are liable to engage to new technologies with keen to learn more and more about the latest techs. Like if we are moving to online payments or doing card payments then it is obviously good to use them more often as it is somehow enabling us to forgive cash burdens. While it is also making people to go quick in terms of saving loads of time.

On the other hand if we take the case of NFC payments then anyone could touch their payment card to your phone and a theft could be done.

I believe digital payments are not secure enough.